Investor Jim Rogers assessed the prospects of the gold and dollar after Brexit


Current gold prices are too high — after a referendum in the UK was won by the supporters of the country’s withdrawal from the EU, the value of an ounce jumped more than 5%. By the end of the year prices should fall, says investor Jim Rogers.

“I don’t like to buy anything so quickly rose. As a refuge I would have preferred gold dollars. I can’t be optimistic when something is growing too fast. With the dollar not, and history has often happened that, when the dollar rose, gold became cheaper,” explained Rogers Bloomberg.

However, and to sell their gold assets investor is not going to. “I have enough gold, I assure you,” he explained to Bloomberg.

In mid-June, visited St. Petersburg international economic forum Rogers also said that in the next two to three years investments in the dollar are “safe haven”. However, in the future the US economy, he said, are big shocks in which result the dollar will depreciate.

“The next two or three years, the dollar will rise, until finally it becomes a bubble, but I hope I have enough sense to get rid of dollar-denominated assets before it will burst,” — said the investor, noting that the collapse of the us economy will be in 2018-2019, “maybe in 2020, quite soon.”

During today’s trading value of an ounce of gold rose to $1337,5 that by 1.14% above the closing level of the previous trading session. Starting in 2016, the value of an ounce of gold rose more than 26%, the dollar at the same time has fallen in price to Euro approximately by 1.75%. During today’s trading the dollar against the Euro rose to 0,9103 that about 1.1% above the closing level of the previous trading session.

“The markets are extremely volatile. Extremely strong uncertainty means that markets are likely to continue to decline and one should expect further fall of the British pound and the Euro,” — said on the eve of Sberbank CIB analysts Tom Levinson and Iskander Lutsky.